Questrade is one of the fastest growing brokerage firms in Canada. Potential and current clients can count on trading currency pairs, stocks, bonds, options. This list includes ETFs, CFDs, precious metals and mutual funds. Questrade also offers IPO access. Cryptocurrency trading is not provided. The main goal is to provide the best choice for Canadian investors in this industry, which, according to the main site, is “historically opposed” to the inhabitants of this country.
It is worth noting that this broker is most suitable for active traders who want to reduce their commission costs.
Trading platforms
Questrade clients can choose from three of the most suitable platforms. Each has its own intuitive interface.
Questrade Trading is a web based broker platform with quotes, base charts, watch lists and research tools. Its downside is that the customization options are limited.
IQ Edge is a downloadable platform with the same features as the web version. Meanwhile, it is endowed with additional functionality in the form of extended order types and has much more personalization options.
A separate platform is provided for Forex and CFD trading, which is unusual and may seem inconvenient for the average trader. Nevertheless, the platform is equipped with extended charts, there is access to currency pairs (over 55), CFDs (8), covering the Dow Jones Industrial Average (DJIA), S&P 500, West Texas Intermediate Crude, gold, silver, copper.
Advanced users may find some criteria, but overall the interface is good and has a moderate level of customization.
Nuances with opening accounts
The broker is not allowed to maintain standard trading accounts (unregistered) for US residents, even if they are Canadian citizens.
If the user has an account with any Canadian financial institution, he will be able to transfer it to Questrade, but if not, he will not be able to open an account with Questrade.
Pros:
there are no annual fees for active traders, there are discounts on subscription payments; managed portfolios with commissions ranging from 0.17% to 0.25% lower than other mutual funds; many of the ETFs are free to purchase.
Minuses:
penalty for inactivity; the platform lacks various types of orders, functions and screensavers; live quotes are free and streaming requires a subscription.
Training and customer service
The company offers to take advantage of seminars, including those taking place online. There are training centers and communities where novice traders and investors can be helped to develop their strategy.
Customer service is up to the mark, support is provided via chat, e-mail. You can use a free phone number with a callback service.
FAQ - BROKER QUESTIONS QUESTRADE
- Do trader reviews affect the rating of QUESTRADE?
- How to leave a review about QUESTRADE on the ita.promo website?
To leave a review about the broker, scroll down the page, enter a valid email and your review with an overall rating. Reviews are moderated and tracked by the number of comments left from one IP or email. The site's technical support may request real documents proving that the user was or is a client of the broker. This rule applies to both negative and positive reviews. We want our portal to be honest and independent.
- Can the broker QUESTRADE be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. QUESTRADE received a rating of 1 out of 5 on our resource.
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